- Jackie Chan to appear on 'The Kapil Sharma Show'Heavy rain and snow forecast for J&KSussanne-Hrithik's picture is too cute to handleA bride is incomplete without jewelleryMumbai relatively safer, says Kangana RanautMona Lisa's journey in 'Bigg Boss 10'SRK takes AbRam's help to promote 'Raees'Great time to be a girl in the industry: Sonakshi SinhaDangal mints over Rs 375 crore in IndiaPriyanka Jagga bags her first Bollywood film
Veteran Leander Paes and his mixed doubles partner Martina Hingis won the first round but
Landlord's PAN must for tax benefit if rent exceeds Rs 1 lakh Last Updated : 18 Dec 2013 03:33:41 PM IST Quoting PAN number of landlord is must if the annual house rent exceeds Rs 1 lakh (File Photo)
Quoting landlord's PAN is mandatory if you pay more than Rs 1 lakh annually towards house rent.
If the PAN is not furnished then it would not be possible to claim tax benefit under House Rent Allowance.
"...an employee claiming exemption from tax with respect to House Rent Allowance received is now required to report the PAN of the landlord to the employer, if the rent paid by the employee to the landlord exceeds Rs 1 lakh per annum, along with the rent receipt," said Minister of Sate for Finance J D Seelam in a written statement in the Rajya Sabha on Tuesday, Dec 17.
He quoted a circular by the Central Board of Direct Taxes (CBDT) on the matter of deduction of tax at source during the payment of salaries.
"In case the landlord does not have a PAN, a declaration to this effect from the landlord along with the name and address of the landlord should be filed by the employees," he added.
In a separate response, Seelam said the number of tax assesses have increased manifold. In the past 15 years, the number of effective IT assesses has increased by more than three times from 1.16 crore as on March 1997 to 3.63 crore at the end of March 2012.
He also said 42,800 persons other than companies admitted to a taxable income exceeding Rs 1 crore.
"The Cabinet has approved the cadre restructuring of the Income Tax Department in May 2013. The implementation of the same is under progress," he said.
Additional 1,080 assessment units to be manned by around 20,000 more personnel have been created to meet the increasing number of IT assesses, he said.
For Latest Updates Please-
Join us on
Follow us on
Post Your Comment (0 posted):
Bollywood superstar Shah Rukh Khan wanted singer Falguni Pathak to sing the "Udi udi" fro
- Jackie Chan to appear on 'The Kapil Sharma Show'
- Sussanne-Hrithik's picture is too cute to handle
- Mumbai relatively safer, says Kangana Ranaut
- Mona Lisa's journey in 'Bigg Boss 10'
- SRK takes AbRam's help to promote 'Raees'
- Priyanka supports anti-Trump women's march
- Great time to be a girl in the industry: Sonakshi Sinha
- Shah Rukh Khan to travel by train for 'Raees'
Researchers at IISER-Kolkata's Ant Lab here are exploring why ants take the risk and bear
After the successful run of V5, Chinese player Vivo on Monday launched another flagship de